QNB Group Announces Receipt of Required Approvals to Proceed with Its Share Repurchase

QNB is pleased to announce that it has obtained all applicable approvals from Qatar Central Bank (QCB) and Qatar Financial Market Authority (QFMA) to proceed with its share repurchase. As permitted under Article 10 of QNB’s Articles of Association and based on QNB Board of Directors’ decision dated 11 September 2024, QNB will conduct its share buyback in accordance with QFMA decision numbers 3 and 4 of 2024. Other details relating to the share buyback are listed below: 1. Ticker ID of the Issuer initiating share buyback: QNBK 2. Maximum amount approved for share buyback: QAR2.9 billion 3. Source of funding the buyback: Existing cash resources of the Issuer 4. Mechanism of the buyback: Open Market Repurchase 5. Timing of the buyback: The buyback will commence after the publication of interim financial statements for the nine months period ending 30 September 2024, subject to market conditions and in accordance with QFMA Share Buyback rules and regulations.